M&A Deal Summary

Daikin North America Acquires Thermal Supply

On December 2, 2021, Daikin North America acquired electronics company Thermal Supply

Acquisition Highlights
  • This is Daikin North America’s 2nd transaction in the Electronics sector.
  • This is Daikin North America’s 2nd transaction in the United States.
  • This is Daikin North America’s 2nd transaction in Washington.

M&A Deal Summary
Date 2021-12-02
Target Thermal Supply
Sector Electronics
Buyer(s) Daikin North America
Deal Type Add-on Acquisition

Target

Thermal Supply

Seattle, Washington, United States
Thermal Supply is the largest distributor of residential and light commercial Daikin, Goodman, and Amana brand products in the Pacific Northwest. Thermal Supply was founded in 1947 and is based in Seattle, Washington.

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Buyer(S) 1

Buyer

Daikin North America

Louisville, Kentucky, United States
Category Company
Founded 1924
Sector Electronics
DESCRIPTION

Daikin North America is a manufacturer of heating, ventilation, and air conditioning products for residential and light commercial use. Goodman brand products are predominantly sold through company-operated and independent distribution networks, with more than 1,000 total distribution points throughout North America. Daikin North America was established in 1924 and is based in Louisville, Kentucky.

DEAL STATS #
Overall 2 of 4
Sector (Electronics) 2 of 3
Type (Add-on Acquisition) 2 of 4
State (Washington) 2 of 2
Country (United States) 2 of 4
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 AirReps

Bellevue, Washington, United States

AirReps is the largest and most tenured manufacturer’s representative firm for premium HVAC equipment in the Pacific Northwest. Primarily serving commercial, industrial, and institutional sectors. AirReps was founded in 1950 and is based in Bellevue, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-02 Venstar

Chatsworth, California, United States

Venstar is a thermostat and energy management system (EMS) manufacturer, known for providing value to its customers via ease of use and installation, proven cost savings, and improved energy efficiency, quality, and reliability. The company is a thermostat supplier in the world and designs and produces Venstar-branded products, as well as OEM thermostat products for the biggest names in HVAC. Its Surveyor is an energy management system, typically saving small-box retailers 20 to 35 percent of controlled energy costs, which translates to tens of millions of dollars in savings each year and dramatic reductions in CO2 emissions. Surveyor currently controls the energy usage of 30,000+ retail locations across the United States, Canada, Puerto Rico, and Mexico. Venstar was formed in 1992 and is based in Chatsworth, California.

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